Notable LeDroit Park Corner Property Listed For Sale

• September 23, 2013
• 5 Comments

by UrbanTurf Staff

A property at the corner of 4th and T Streets NW, that anyone familiar with LeDroit Park will know, recently hit the market.

1901 4th Street NW, set amidst the neighborhood rowhouses, has two residential floors above a commercial space. The residential portion is framed but lacks walls, and the retail component is finished and currently operating as the high-end leaning LeDroit Park Market, stocked with items like quinoa and wine.

For those who dream of operating a neighborhood-serving corner store, this is an intriguing option as the beer/wine/liquor license will carry over. In 2000, a long-time LeDroit Park resident bought the property when it was in a foreboding state, and renovated the retail portion, which re-opened as LeDroit Park Market in 2002. Presumably, the market would close once the property is purchased, but UrbanTurf is confirming.

The residential portion.

According to the agent, the residential portion of the property was in the process of being converted from two units into one larger unit, and the eventual owner will need to finish the work. There is also a basement with a simple kitchen, bathroom and living area. More details below.

• Full listing: 1901 4th Street NW (map)
• Price: $998,000
• Bedrooms: Six
• Bathrooms: Two
• Year Built: 1890
• Listing Agents: John Guggenmos, McWilliams/Ballard

This article originally published at http://dc.urbanturf.com/articles/blog/notable_ledroit_park_corner_property_hits_market/7594

5 Comments

1. C said at 7:33 pm on Monday September 23, 2013:
   Could the Editors or someone explain why there is a question as to whether or not the market would close once the property is purchased? Is it operating now and does this then work similarly as a legal rental unit does? If so, why would the market need to close? Also, is it that the current owner possibly ran out of money after grand plans to conver 2 apts into 1 large one? Essentially, it stacks up like this: basement unit, commercial space on ground level, to be finished by new owner, in theory, large 1 apt in the midst of conversion from 2 apts (see gutted picture). Just want to make sure I understand. Also, what makes the market high-end grocer? Because they sell wine and quinoa? I'm sorry but that's a little ridiculous - quinoa and wine don't make for high-end retail. Thanks

1. The Editors said at 7:44 pm on Monday September 23, 2013:
   C, Yes, the market is operating now and we are looking into whether or not it has a lease that would extend into the new ownership of the property. As to your other question, we do not know the circumstances as to why the current owner is selling and don't want to speculate. The Editors

1. The Editors said at 7:51 pm on Monday September 23, 2013:
   An update to the article: The tenant of the commercial space is also the owner, so there is no lease. That said, UrbanTurf has learned that the property has already received an offer since hitting the market Friday which would keep the market in place, including the name. The Editors

1. mona said at 8:08 pm on Monday September 23, 2013:
   I think it is a good deal if you can get the market leased out, live in one unit and rent the other. Great neighborhood and wonderful building. Only issue is this was a corner store that was notorious for getting robbed. Hope the new owners are fully aware of this and check with the current owner to see what has been done, security wise, to mitigate that issue

1. Zesty said at 9:04 pm on Monday September 23, 2013:
   This sounds like a good deal....I guess that's why there was an offer on it 2 days after it was listed